Urban Standard Acquires Mix-Use Property In Brooklyn For $3.1M

The mix-use property located at 482 Tompkins Avenue in Brooklyn, New York was recently sold for a total price of $3,072,500. The asset consists of 16 units, including 14 residential units and 2 retail spaces. The property has a cap rate of 5%, indicating the potential return on investment for the buyer, Urban Standard.

Summary of transaction details

• Property Type: Mix-use
• Transaction Amount: $3,072,500
• Address: 482 Tompkins Avenue, Brooklyn, New York
• Market: Brooklyn
• Units: 16 (14 residential and 2 retail)
• Cap Rate: 5%

The seller of the property was SME Capital, represented by Eran Silverberg. The buyer, Urban Standard, acquired the property through the assistance of the broker, Fred Bijou from TerraCRG. Matt Cosentino and Eric Satanovsky also played a role in the transaction as part of the broker team.